Business Case for Diversity
Improved Financial Performance
Failure to properly implement diversity programs will increase operational, reputational, legal and financial risk.
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"In 2010, the value of the ten largest employment discrimination class action settlements increased to $1.6 billion, the highest amount ever". Source: Seyfarth & Show LLP, "Workplace Class Action Litigation Report", 2010.
"The average cost of replacing an employee is approximately 150% of the annual salary". Source: Deloitte Research, "Do You Know Where Your Talent Is?" 2008.
"$64 billion in costs annually is attributed to the turnover of employees who left their companies solely due to unfairness (people of color, LGBT individuals, and women were more likely to leave due to unfairness than men)". Source: The Level Playing Field Institute, "Corporate Leaves Survey" 2007.
"By 2050, more than half of the U.S. population will be non-white (African-American, Asian and Hispanic)... and the economic opportunity for brands in the consumer produce groups is projected to increase by 74%, $520 billion, from 2010". Source: Pirovano, Neilsen Company / US Census projections, "U.S. Demographics are Changing... Are your Marketing Plans Ready?" 2010.
"Unfairness in the form of everyday inappropriate behaviors, such as stereotyping and public humiliation, is a real and prevalent resulting in the voluntary resignation of 2 million employees each year." (People of color, LGBT individuals, and women are more likely than white men to leave). Source: The Level Playing Field Institute, "Corporate Leavers Survey", 2007.